WASHINGTON – The United States will begin talks with Taiwan to address the assessment of the currency and external imbalances, saying its central bank is actively intervening in the foreign exchange market, the Treasury Department said on Friday.
The department will continue similar talks with Vietnam and Switzerland, which were designated as currency manipulators by the Treasury under the Trump administration in January.
Starting from the position of the Trump administration, the Treasury stopped designating the three currency manipulators.
“The Treasury has established that there is insufficient evidence to establish that Vietnam, Switzerland or Taiwan are manipulating their exchange rate for any of the above purposes,” according to a 1988 law on trade and competitiveness, the Treasury said.
The names came in the Treasury’s half-yearly report analyzing the foreign exchange and economic policies of major US trading partners. It was the first report issued under Treasury Secretary Janet Yellen.